Disclaimer: Covid-19 may have impacted rent prices in a way that is not yet reflected in our reports. When referencing the data published on this page, please keep in mind that the data provided here may not accurately depict the current reality of the market.

Waco, TX Rental Market Trends

Highlights

The average rent for an apartment in Waco is $988, a 2% increase compared to the previous year.

Average Rent in Waco, TX

Last updated February 2020

Average Rent

Y-o-Y Change

Average Apartment Size

$988

2%

864 sq. ft.

The average size for a Waco, TX apartment is 864 square feet, but this number varies greatly depending on unit type, with cheap and luxury alternatives for houses and apartments alike. Studio apartments are the smallest and most affordable, 1-bedroom apartments are closer to the average, while 2-bedroom apartments and 3-bedroom apartments offer a more generous square footage.

Waco, TX Apartment Rent Ranges

< $5004%

$501-$70021%

$701-$1,00040%

$1,001-$1,50025%

$1,501-$2,0004%

> $2,0006%

Waco, TX Occupied Housing Units

Renter-occupied Households40%

Owner-occupied Households59%

19,451 or 40% of the households in Waco, TX are renter-occupied while 28,599 or 59% are owner-occupied.

Waco, TX Rent Trends

Average Rent

Nov / 2016

Mar / 2017

Jul / 2017

Nov / 2017

Mar / 2018

Jul / 2018

Nov / 2018

Mar / 2019

Jul / 2019

Nov / 2019

Feb / 2020

Waco, TX

$955

$961

$956

$955

$958

$952

$952

$969

$972

$977

$988

National

$1,340

$1,337

$1,368

$1,371

$1,374

$1,408

$1,417

$1,422

$1,458

$1,466

$1,468

/

Average Rent in Waco, TX By Neighborhood

Brazos

$1,312

Alta Vista

$1,306

Baylor

$1,306

Oakwood

$1,306

Robinson

$1,306

University

$1,254

Beverly Hills

$968

East Riverside

$854

Carver

$815

Bellmead

$798

Chalk Bluff

$798

Gholson

$798

Hallsburg

$798

Lacy-Lakeview

$798

Rogers Hill

$798

Technology Village

$798

Timbercrest

$798

Kendrick

$792

Austin Ave

$785

Brook Oaks

$770

Cedar Ridge

$770

Dean Highland

$770

North Lake Waco

$770

North Waco

$770

Rock Creek

$770

Landon Branch

$756

Brookview-Heart of Texas

$752

Mountainview

$752

Richland Hills

$752

Ridgewood Country Club

$752

/

Neighborhood

Average Rent

Ridgewood Country Club

$752

Richland Hills

$752

Mountainview

$752

Brookview-Heart of Texas

$752

Landon Branch

$756

Rock Creek

$770

North Waco

$770

North Lake Waco

$770

Dean Highland

$770

Cedar Ridge

$770

Brook Oaks

$770

Austin Ave

$785

Kendrick

$792

Timbercrest

$798

Technology Village

$798

Rogers Hill

$798

Lacy-Lakeview

$798

Hallsburg

$798

Gholson

$798

Chalk Bluff

$798

Bellmead

$798

Carver

$815

East Riverside

$854

Beverly Hills

$968

University

$1,254

Robinson

$1,306

Oakwood

$1,306

Baylor

$1,306

Alta Vista

$1,306

Brazos

$1,312

/

/

The most affordable neighborhoods in Waco are Brookview-Heart of Texas, where the average rent goes for $752/month, Mountainview, where renters pay $752/mo on average, and Richland Hills, where the average rent goes for $752/mo. If you’re looking for other great deals, check out the listings from Ridgewood Country Club ($752), Landon Branch ($756), and Brook Oaks ($770), where the asking prices are below the average Waco rent of $988/mo.

The most expensive neighborhoods in Waco are Oakwood ($1,306), Robinson ($1,306) and Brazos ($1,312).

The most popular neighborhood in Waco is Lacy-Lakeview, where there are 2 verified RENTCafé listings with an average rent of $798. Next up is Richland Hills, where apartments go for $752/month, followed by Baylor with $1,306 If you’re looking to rent in Waco’s most popular neighborhoods, make sure to also check out Beverly Hills, where renters pay $968 on average, and Brazos, where the average monthly rent is $1,312.

The rental statistics on this page were compiled using data provided by our sister company, Yardi Matrix, an apartment market intelligence solution which offers comprehensive information on all Waco apartment buildings 50 units or larger. Yardi Matrix covers ~80% of the U.S. metro area population, including over 80,000 properties and 15.2 million apartments across 124 U.S. markets.